In Pursuit of Profit - Blog

Should Your Accountant Be Responsible for Bookkeeping?

11/18/2019

Should Your Accountant Be Responsible for Bookkeeping?

Business owners looking to control expenses will often combine roles under a single job title to reduce headcount demands.

This is especially prevalent when it comes to financial positions.

Too often bookkeepers are asked to own financial tasks that they are not prepared to take on (like forecasting and tax preparation), while accountants are assigned busy work that they are overqualified for (like entering receipts and issuing checks).

Taking a Vacation as a Business Owner

11/4/2019

Taking a Vacation as a Business Owner

How many vacations should business owners take?
If you have to ask, you are not taking enough.

Americans are taking fewer (and shorter) vacations overall and this trend is magnified at the top of organizations. Business owners are less likely to take much needed vacation time than lower level staff, especially at small businesses and startups. In fact, only half of small business owners plan to take a vacation in the next year and of those, 26% will just take a few days off.

Corporate Philanthropy: What is in Your Budget?

10/28/2019

Corporate Philanthropy: What is in Your Budget?

As head of CFO Selections corporate philanthropy initiatives, the question I get most often, especially now at budget time, from other company executives is, “What is the right amount of money to budget for donations?”

The Pros and Cons of Doing Business in Oregon

8/12/2019

The Pros and Cons of Doing Business in Oregon

Is Oregon the right place for your business? Many Americans dream of starting a business, and the number of new ventures has continued to reach new heights. If you're thinking about launching a company, where you do so matters.

Entrepreneurs are increasingly choosing to call Oregon their home base. The state's economy is strong, and many local communities are committed to the success of small businesses.

6 Tips for Organizing Business Receipts

7/22/2019

6 Tips for Organizing Business Receipts

Many business owners struggle with back-end office organization, especially regarding financial items like business receipts. The problem is two-fold: most business owners underestimate the importance of business receipts, and receipts are hard to organize manually.

While it is advisable to keep all purchase receipts – personal and professional – a desire to reduce paper clutter and make the right choice environmentally has many people skipping the receipt altogether or asking for an emailed copy.

How to do Background checks on Prospective Employees

7/3/2019

How to do Background checks on Prospective Employees

Hurried hiring is bad hiring. Yet many businesses still hire new employees hastily, filling everything from entry-level positions to key strategic roles. Fast-growing businesses are the most at risk for rushed hiring because they have the most open positions and the greatest incentive to fill them quickly. Unfortunately, this can be a recipe for disaster, derailing competitive momentum and stymying long-term growth.

How Long Should You Keep Business Records?

5/7/2019

How Long Should You Keep Business Records?

A Business Owner’s Guide to Retaining Tax Returns, Financial Records and Key Documents

The sheer volume of paper that accumulates in a business can be overwhelming. Taxes, employees, assets, cash and credit accounts, investments, and accounts payable and receivable all generate a paper trail that can bury daily operations if left unchecked.

8 Signs That it May Be Time to Fire an Accounting Firm

4/10/2019

Picture8 Signs That it May Be Time to Fire an Accounting Firm

Shrewd business owners understand the benefits of outsourcing accounting functions. Utilizing an accounting firm maximizes business value by improving financial reporting accuracy and timeliness, allowing for better strategic planning, and reducing tax burden. However, these benefits depend on a solid working relationship with an experienced accounting firm. When there is a poor fit or the firm is performing inadequate work, its value is likely lower than expected. In extreme cases, business objectives and strategic growth plans can also be stymied.

If you notice any of these critical issues, it may be time to fire your accounting company:

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Accounting Solutions Partners

Your resource for Seattle and Portland bookkeeping services. Serving Seattle, Bellevue, Redmond, Kirkland, Portland, Beaverton, Hillsboro, Lake Oswego and more.

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